SunSirs: The Melamine Market in February Was Mainly Stable

Price trend

According to the Commodity Market Analysis System of SunSirs, as of February 27th, the average price of melamine enterprises was 7,475.00 RMB/ton, which was unchanged from the price on February 1st.

Market Overview

The melamine market remained stable in February. Before the holiday, the price of raw material urea rose narrowly, with average cost support. Downstream factories gradually closed, market trading slowed down, and the market remained weak and stable. Some companies offered discounts to receive orders, while manufacturers had sufficient orders to be issued. After the holiday, the price of raw material urea mainly rose, with increased cost support. The industry started at a high level, and enterprises mainly executed advanced orders. Downstream demand was still recovering, and new orders in the market were generally traded. Some enterprises adjusted their prices according to their own situation, and the melamine market negotiations were stable and wait-and-see.

Upstream urea, on February 26th, the reference price for urea was 2,508.33 RMB/ton, an increase of 3.15% compared to February 1st (2,431.67 RMB/ton), and the cost still provided support for the melamine market.

Market outlook

Melamine analysts from SunSirs believe that as downstream demand continued to start construction or boosted the market, the melamine industry's capacity utilization rate was high, and the market's wait-and-see mentality still existed. It is expected that in the short term, the melamine market situation may be stable and adjusted, and more attention needs to be paid to market consumption guidance.

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